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202 N Walnuthaven Drive West Covina, CA 91790

3 Beds 1 Baths 1,117 sqft Built 1949

$569,950

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 1949
  • Price/Sqft : $510.25
  • 9 Days on Market
  • MLS # : CV21020070
  • Updated Date : 02/02/2021 at 18:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,117 sqft
  • Baths : 1 full
Listing Agent

Lyons & Associates

Listing Agent's Description

3 BEDROOM 1 BATH HOME LOCATED IN AN EXCELLENT NEIGHBORHOOD OF WEST COVINA. THIS HOME IS LOCATED CLOSE TO FREEWAY AND WEST COVINA MALL. THE HOME HAS A NEW EXTERIOR PAINT WITH FANTASTIC CURB APEAL. INTERIOR OF HOME AS HARDWOOD FLOORS, MODERN WINDOWS, MODERN KITCHEN AND BATHROOM. ENJOY THE NEWER F/A AND C/A UNITS FOR THE WINTER AND SUMMER MONTHS. STEP OUTSIDE TO A 9,698 SQ FT LOT WITH A SPACIOUS BACK YARD FOR THE FAMILY TO ENJOY. THERE IS A LONG DRIVEWAY TO A TWO CAR GARAGE. THE BACK YARD HAS A PERSIMMON TREE THAT PROVIDES PLENTY OF PERSIMMONS AND A LEMON TREE TO ENJOY SOME LEMONADE. THIS HOME HAS LOCATION, LOCATION, LOCATION. SHOW TODAY OR IT WILL BE GONE TOMORROW.

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MARKET HIGHLIGHTS

  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Freeway Corridor

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600kPrice in $178k622k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Freeway Corridor

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q21600180020002200240026002800Rent in $14672941

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Walnut Grove Intermediate School Middle Regular 383 21 6
Edgewood High School High Regular 831 33 7
West Covina High School High Regular 2,426 97 7

Walnut Grove Intermediate School

  • Education Level: Middle
  • # of students: 383
  • # of teachers: 21
6
GreatSchools Rating

Edgewood High School

  • Education Level: High
  • # of students: 831
  • # of teachers: 33
7
GreatSchools Rating

West Covina High School

  • Education Level: High
  • # of students: 2,426
  • # of teachers: 97
7
GreatSchools Rating
 

$512,955$626,945$569,950

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,980
Property Tax -$584
Property Insurance -$54
Property Management Fees -$114
CASH FLOW
-$411

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$569,950

PROJECTED PRICE

$2,320

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,787

INVESTMENT

$156,787

Down Payment
$142,488
Rehab Estimate
$5,750
Closing Costs
$8,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,980

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,488
Loan Amount $427,463
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$10,642

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,320

    LIST RENT
  • $2.08

    LIST RENT PER SQFT
  • $1,958

    COMP ESTIMATED VALUE
  • $1.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3003$2,3204$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 202 N Walnuthaven Drive West Covina, CA 3
    • 3 beds 1 baths ∙ 1,117 Sqft ∙ Built 1949 3 beds 1 baths ∙ 1,117 Sqft ∙ Built 1949
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $2.08
    •  
  • 1824 Gretta Avenue La Puente, CA 1
    • 3 beds 2 baths ∙ 1,213 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,213 Sqft ∙ Built 1960
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.73
    •  
  • 711 S Vanderwell Avenue West Covina, CA 2
    • 3 beds 1 baths ∙ 1,309 Sqft ∙ Built 1952 3 beds 1 baths ∙ 1,309 Sqft ∙ Built 1952
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.76
    •  
  • 1041 E Merced Avenue West Covina, CA 4
    • 3 beds 1 baths ∙ 1,362 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,362 Sqft ∙ Built 1953
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.76
    •  
  • 725 N Neil Street West Covina, CA 5
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1954
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.76
    •  
PROPERTY LISTING DETAILS
Rita Martinez
Lyons & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21020070
Last Updated: 02/02/2021
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